THE NATIONAL COMMERCIAL BANK

Company Introduction:

The National Commercial Bank, widely known as NCB, was a prominent financial institution in Saudi Arabia and one of the largest banks in the Arab world. Established in 1953, it held the distinction of being the first Saudi bank licensed in the Kingdom. NCB offered a comprehensive range of banking and financial services, including retail banking, corporate banking, private banking, investment banking, and Islamic banking solutions, catering to individuals, businesses, and institutional clients. It played a crucial role in the economic development of Saudi Arabia, supporting various sectors and large-scale projects. In 2021, The National Commercial Bank completed a merger with Samba Financial Group, resulting in the creation of Saudi National Bank (SNB), which is now the largest bank in Saudi Arabia and a leading financial powerhouse in the region.

Nature of Business:

The National Commercial Bank was a financial services institution, specifically a commercial bank. It was neither a factory nor a trader.

The National Commercial Bank (NCB) of Saudi Arabia produced or sold a wide range of financial products and services, primarily categorized as follows:

Retail Banking Products and Services:

Current accounts

Savings accounts

Fixed deposit accounts

Personal loans

Auto loans

Home loans and mortgages

Credit cards (Visa, MasterCard)

Debit cards

Prepaid cards

Online banking and mobile banking services

ATM services

Remittance services

Sharia-compliant financing products such as Murabaha for auto and home finance

Corporate and Business Banking Products and Services:

Corporate accounts

Small and Medium-sized Enterprise (SME) banking solutions

Corporate loans and credit facilities

Trade finance including Letters of Credit, Letters of Guarantee, and Documentary Collections

Cash management services

Treasury products

Project finance

Sharia-compliant corporate financing solutions

Investment Banking and Wealth Management:

Asset management services

Private banking services

Wealth management solutions

Brokerage services for equities and other securities

Investment funds (mutual funds)

Structured finance products

Sukuk and other Islamic investment instruments

Other Services:

Insurance products (often in partnership with insurance providers)

Foreign exchange services

Safe deposit boxes